Multifamily Asset in Little
For Sale
$2,600,000
1 NE 78th Street, Miami, FL 33138
13-unit multifamily property in Miami's Little River neighborhood.
Property Size6,395 SF
Lot Size0.30 Acres
Price / SF$346.85
Days on Market203
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Property Features for 1 NE 78th Street
General Information
Standard status
Active
Size
6,395 SF
Lot size
0.30 Acres
Property subtype
Multi Family
Building Details
Building Size
6,395 SF
Year Built
1971
Listing Agency:
Fausto Commercial Realty Consultants Inc
Listed By:
Vicente Javier Rodriguez · License #3289280
(305) 510-6627
Source:
Silverleafrealtygroup
Added: Mar 27
Changed: Oct 4
Last Checked: Oct 15 at 5:07AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Fausto Commercial Realty Consultants Inc
Investment Insights
Based on property information with market context.
This 13-unit multifamily asset is located in the Little River neighborhood of Miami. Constructed in 1971, the two-story building has approximately 7,496 square feet of living area and is situated on a 13,063 square foot lot. The property is positioned on a corner lot with frontage along NE 78th Street, offering visibility and walkability. It also provides connectivity to the Design District, Wynwood, and Downtown Miami, as well as major transit corridors. The property is currently operating with stable in-place income.
Key Highlights
- Strategically located in the heart of Little River, one of Miami’s fastest‑evolving urban neighborhoods.
- Stable in‑place income.
- Prominent corner lot with strong visibility.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$138,477
Cap Rate
5.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,769,540
$2.8M
Cap Rate 7%
$1,978,243
$2.0M
Cap Rate 9%
$1,538,633
$1.5M
Market Conditions
NOI Build-Up for 7,496 SF
Gross rent
$269.9K $36.00/SF
− Vacancy
−$18.1K −$2.41/SF
EGI
$251.8K $33.59/SF
− OpEx
−$113.3K −$15.11/SF
NOI
$138.5K $18.47/SF
Area
Miami, FL
Vacancy
6.70%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,769,540
Cap Rate 7%
$1,978,243
Cap Rate 9%
$1,538,633
Alternative Uses
Best Use
Apartment 5plus
$1.98M
$1.73M – $2.31M
NOI $138,477 @ 7.0% cap · market cap 5.33%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.06M
$4.43M – $5.90M
NOI $354,189 @ 7.0% cap · market cap 13.62%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,125
Businesses Nearby
Explore this area
Business Placement
Demographics for 33138, FL
27,601
Population
14,310
Households
1.9
Avg Household Size
43
Median Age
47%
College-Educated
87%
High-School Grad
4.2 sq mi
ZIP Area
6,572
Density / Sq Mi
$71,518
Median Household Income
$52,853
Median Earnings
$1,647
Median Rent
$686,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - 13-unit multifamily property in Miami's Little River neighborhood.
Where is this apartment building located?
The property is located at 1 NE 78th Street Miami, FL.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: Strategically located in the heart of Little River, one of Miami’s fastest‑evolving urban neighborhoods.; Stable in‑place income.; Prominent corner lot with strong visibility.
